Trump Media Bets on Crypto: Truth+ Platform to Launch Utility Token
Trump Media & Technology Group (TMTG) is diving into crypto—again. The company behind Truth Social now plans to issue a utility token for its Truth+ platform, according to sources familiar with the matter.
Why it matters: After a SPAC-fueled stock rollercoaster, TMTG seems determined to tap into the next speculative frenzy. The move follows Elon’s playbook—minus the Dogecoin memes.
Between the lines: The token would reportedly grant premium features on Truth+, though skeptics note most ’utility tokens’ end up as glorified loyalty points. One Wall Street analyst quipped: ’At least it’s not another NFT trading card series.’
What’s next: Watch for regulatory scrutiny. The SEC already has TMTG in its sights over SPAC disclosures—adding a token could mean fresh headaches.
Trump Media’s Blockchain Plans: How Will a Utility Token Change Truth+
In a letter to shareholders, TMTG’s CEO and Chairman, Devin Nunes, outlined the company’s plans to expand its digital offerings and explore various monetization avenues for Truth+.
This includes advertising and introducing a subscription package that would feature premium content. The company is also working to secure new programming, including family-friendly entertainment, documentaries, and unbiased news broadcasts.
Additionally, Nunes revealed that TMTG is considering a rewards program featuring a utility token. These efforts aim to position Truth+ as a competitive player in the streaming media sector.
“As part of a rewards program, we’re exploring the introduction of a utility token within a Truth digital wallet,” Nunes wrote.
The CEO explained that this token would initially be used to pay for subscriptions to Truth+. The goal is to expand its use to other products and services within the Truth ecosystem later. At this point, the details regarding the token’s structure and other aspects are yet to be revealed.
This move follows TMTG’s previous ventures into the sector. In January, the publicly listed firm committed $250 million for crypto-related investments through Truth.Fi. The next month, the company announced plans to launch customized exchange-traded funds (ETFs) and separately managed accounts (SMAs). This also included a Bitcoin (BTC) ETF.
Meanwhile, Trump’s involvement in the sector has continued to deepen. Recently, BeInCrypto reported that The Trump Organization, in collaboration with London-listed Dar Global, is building a $1 billion Trump International Hotel and Tower in Dubai. This project will be the first large-scale development to accept Bitcoin and crypto payments.
In addition, the President is set to host a private dinner on May 22 with the top 220 holders of his Official Trump (TRUMP) meme coin.
With Trump’s continued engagement, both personally and through his business ventures, it is clear that the integration of blockchain technology into TMTG’s broader business model will be a key element in its future growth.
